Veritas writedowns drive first-half loss, debt maturities loom

Tue, 23 Feb 2016

By Paul McBeth Feb. 24 (BusinessDesk) - Veritas Investments shares dropped 12 percent after the ailing food and beverage company posted a first-half loss as it booked a series of impairment charges and said it plans to renegotiate its banking arrangements ahead of a looming maturity. The Auckland-based company reported a net loss of $4.8 million, or 11.1 cents per share, in the six months ended Dec. 31 from a profit of $1.7 million, or 4.4 cents, a year earlier. That included impairment charges and other write-offs totalling $5.3 million....

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